The Lost Allure of Global Free Trade

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LONDON — President Clinton’s decision to pull his fast-track trade bill from the House floor early Monday morning rather than face a humiliating defeat marks a turning point in U.S. history. For the first time since World War II, the nation’s financial, political and intellectual elites have been repudiated on …

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The Silver Lining in Houston

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by Patrick J. Buchanan – November 6, 1997 Backers of racial preferences are taking heart from a 54 percent-46 percent ballot victory in Houston that upholds a policy which sets aside 20 percent of the city’s business exclusively for minorities and women. “Houston’s Support of Affirmative Action May Slow Opposition …

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The Fast Track to Bailout City

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Politics is often beyond parody. On Sunday, House Speaker Newt Gingrich declared on “Meet the Press” that unless Congress approves “fast track,” it will “send a signal to the world that is devastating.” “(T)he world,” said Newt, “is looking for us to take leadership.” What does Newt mean by “leadership”? …

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What the Crash of ’97 Portends

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by Patrick J. Buchanan When the U.S. merchandise trade deficit came in at near $190 billion last year, free traders had a ready retort: Trade deficits don’t matter! Well, we’re about to find out. Since summer, stocks have crashed and burned in Thailand, Malaysia, Indonesia, the Philippines, South Korea, Taiwan …

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The Rodney Dangerfield Republic

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by Patrick J. Buchanan – October 23, 1997 “African Brothers in Spirit” ran the caption over a photo of a beaming Nelson Mandela holding hands with a smiling Moammar Qaddafi. On entering Tripoli, Mandela’s 50-car motorcade passed under a banner reading: “Mandela’s visit to Libya is a devastating blow to …

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Harold Creel’s 30 Seconds Over Tokyo

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by Patrick J. Buchanan – October 20, 1997 For the Theodore Roosevelt Big Stick Award for 1997, permit me to nominate Harold Creel of the Federal Maritime Commission. Fed up with Japan’s refusal to pay $4 million in fines, Creel last Thursday ordered all U.S. ports closed to Japanese ships. …

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Yes, Janet, There is a Smoking Gun

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In Edgar Allen Poe’s “The Purloined Letter,” the document is found where no one thought to look, “full in the view of every visitor,” right before their eyes. As Janet Reno’s agents burrow bravely through the history of the Pendleton Act to see if White House phone solicitations are illegal, …

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Bailouts Without End

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by Patrick J. Buchanan – October 13, 1997 The IMF has become the 911 number immediately called in times of trouble by such champions of free markets as Citicorp and Goldman, Sachs. With all that IMF money, the Thailands and Mexicos are spared the consequences of their fiscal incompetence, and …

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